Pfizer to Acquire Array
The Terms of the Agreement
Under the terms of the agreement, Pfizer will pay $48 in cash for each Array share. That is around 62% above the $29.59 stock price as it closed on Friday. The price paid represents around $10.64 billion market capitalization for Array.
This is great news for those Prohost subscribers who believed in the great value of Array’s library of: its targeted molecules, its pipeline, its solid science and its great scientists. The acquisition is expected to improve Pfizer’s cancer franchise with Array’s colorectal franchise, and other products; in addition to the firm’s expertise in other cancers, including breast and prostate cancers.
Prohost added Array to its selected portfolio on March 11, 2011 at $3, never selling it but putting a 2019 target for it at $35.
Congratulations to those who did not abandon the Array ship during the times when the stock used to rally. They knew ARRY’s rallying had never been a part of the market’s games but; however, instead based on great news about the firm’s products’ approvals or their advancement in clinical trials based on good results.
This is, indeed, big news for Array’s shareholders!
Our next topic is treating Hemoglobinopathies from the firm that was granted conditional gene therapy approval and the firm whose investigational product has demonstrated statistically significant positive results in the treatment of sickle cell disease (SCD).
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